President Muhammadu Buhari has urged Nigerians to give him seven days to resolve the issues surrounding the policy of the Central Bank of Nigeria (CBN) to swap the old Naira notes with new ones.
While interacting with the Progressives Governors Forum at the Presidential Villa, Abuja, President Buhari said the currency re-design will further grow the economy and provide long-term benefits to Nigerians.
In a statement, the President however observed that some banks were making the exercise difficult.
“Some banks are inefficient and only concerned about themselves,” the President stated.
“Even if a year is added, problems associated with selfishness and greed won’t go away,” he said.
President Buhari assured Nigerians that the extension window given by the CBN would be more than enough to “remove all obstacles” that have caused hardships on Nigerians .
“I will revert to the CBN and the Minting Company,” he promised.
“There will be a decision one way or the other in the remaining seven days of the 10-day extension,” he stressed.
President Buhari also noted that the CBN made an undertaking, promising not to print the new notes in a foreign country since it had enough capacity, manpower and equipment to print the currency for local needs.
The statement said while state Governors were commending the President on the naira renewal initiative, they were at the same time berating the manner of its execution.
The Governors appealed to the President to quickly find “lasting solutions” to the issues as they were worried about the impact it would have on the economy, particularly now that the elections are around the corner.
Writing by Oluwaseyi Ajibade; Editing by Tina Oyinsan and Tony Okerafor